HungaryTrends – The previous week in business and finance

See below main business and financial news from the previous week:

BUDAPEST AIRPORT: NEW FLIGHTS ALL YEAR ROUND

Airlines are announcing new flights from Budapest one after the other for the winter schedule period, and some have already disclosed new destinations to be launched from the Hungarian capital next summer. The 2018-2019 winter schedule enters into force with the resetting of the clocks on 28 October, read more HERE.

HERE IS THE LIST: HUNGARY HAS THE 3RD HIGHEST PRICE INCREASE IN EU

It was not only regular people’s perception: everything became much more expensive in Hungary between 2000 and 2017 with regards to consumer prices. The price increase has been so drastic that they have been raised by 98 pc on average, which is the 3rd highest among EU member states, read more HERE.

HUNGARY SIGNS EUR 225 M CREDIT AGREEMENT WITH EIB

Hungary has signed a 225 million euro credit agreement with the European Investment Bank (EIB) for co-financing for European Union-funded developments. The agreement will contribute to the implementation of transport infrastructure, environmental and energy efficiency investments.

GALLICOOP INAUGURATES EUR 5.2M PACKAGING PLANT

Poultry company Gallicoop inaugurated a 1.7 billion forint (EUR 5.2m) packaging plant in Szarvas, southeast Hungary. Half of the investment cost was covered by a government grant awarded to big companies which are ineligible for European Union funding.

BILK LOGISZTIKAI EXPANDS INDUSTRIAL PARK IN BUDAPEST

BILK Logisztikai added a 3,800sqm warehouse at its logistics base, one of the biggest in Budapest. The more than 500 million forint (EUR 1.5m) investment brings the total building space at the base to 186,000sqm.

NBH ENDS MORTGAGE BOND PURCHASES ON SECONDARY MARKET

The National Bank of Hungary (NBH) said it will only buy mortgage bonds on the primary market after October 1, discontinuing secondary-market purchases.

KONZUM ASSETS DOUBLE IN H1

Total assets of listed holding company Konzum doubled to 132.4 billion forints (EUR 407.3m) at the end of the first half compared to the end of 2017, an earnings report shows. Net assets rose 43 percent to 58.3 billion forints during the period.

Photo: MTI

Source: MTI